Rolls-Royce appoints acclaimed technology executive as CEO

April 22, 2015 11:29 AM

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LONDON (Reuters) - Aircraft engine maker Rolls-Royce (RR.L) has turned to one of Britain's most successful technology executives, Warren East, to restore its fortunes after a year marred by falling profit, job cuts and canceled orders.

The British company's surprise announcement on Wednesday said that John Rishton would retire in July after four years at the helm and will be succeeded by the former head of ARM Holdings (ARM.L), Britain's biggest listed technology company.